Columbus home values closing in on pre-recession peak, report finds

Home prices in Central Ohio are closing in on their pre-recession peak following a 12-month stretch of 6.6 percent appreciation, according to a report from Black Knight Financial Services.

At mid-year, the area’s average price stood at $175,000, up from $164,000 a year earlier and about 1 percent off an all-time high of $177,000 in June 2006, show data from the company’s Home Price Index report.

Central Ohio’s housing market is recovering relatively quick. By comparison, in Cincinnati, a $160,000 average price remains 7.4 percent off that region’s $173,000 peak. Cleveland’s $135,000 average price is 16.7 percent lower than a $163,000 high mark before the housing market collapsed in 2007.

Overall, the average U.S. home price is down 10.4 percent, despite increasing 5.5 percent from June 2013.

Black Knight Financial Services, a subsidiary of Fidelity National Financial Inc. (NYSE:FNF), compiles the report from non-distressed sales concluded during each month.